Module 01M -- Introduction Spr 2009

# Module 01M -- Introduction Spr 2009 - INTRODUCTION TO...

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INTRODUCTION TO INTRODUCTION TO STATISTICAL CONCEPTS STATISTICAL CONCEPTS

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Objectives Definition of “statistics” Descriptive vs. Inferential Statistics Types of Descriptive Statistics Elements of Inferential Statistics Qualitative vs. Quantitative Data Data Collection Methods Inference errors from nonrandom samples
SURVEY A random sample of students taking a statistics class are asked, “What is your age?” Responses 23 27 25 26 22 23 21 24 30 45 21 20 25 19 35 23 25 20 31 26

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DATA From this survey we get data : 22 35 21 26 23 27 25 20 20 19 25 24 25 26 23 21 23 30 45 31
INFORMATION In reality, data files are often very large Much larger than this example Data is often stored in Large computer databases Printed records The key question is, “how do we extract useful information information from this data?”

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What is Statistics? Statistics Statistics is a way to get INFORMATION INFORMATION from DATA DATA
Types of Statistics Two Types of Statistics Statistics Statistics Descriptive Descriptive Inferential Inferential

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DESCRIPTIVE STATISTICS Graphical Depictions of Data Histograms (Bar Charts) Pie Charts Other Types of Charts/Graphs Numerical Descriptions/Measures of Data Frequencies Measures of Central Tendency Measures of Variability
Inferential Statistics Testing hypotheses Making inferences from surveys Giving ranges for estimates Predicting the value of one variable (e.g. sales) for given values of other variables (e.g. advertising dollars) Forecasting future values over time Quality control

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Basic Statistical Concepts Population Population A set of items ( experimental units experimental units ) under study Parameter (Variable)
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## This note was uploaded on 11/16/2011 for the course ECON 202 taught by Professor Kim during the Fall '11 term at CSU Fullerton.

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Module 01M -- Introduction Spr 2009 - INTRODUCTION TO...

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